Question

s there a risk to being too focused on the financial aspects of the property? What type of strategy would you develop to maximize the value of your property?

1. Would you charge the highest possible rents? Why or why not?

2. Would you maintain the property to the highest possible levels of quality and cleanliness at all times? Why or why not?

3. Would you take any tenant so long as they paid the rent? Why or why not?

Explain and discuss.

Answer 1

There is no risk to be focused on the financial aspect of the property the reason been is that if you are more engaged into earning from the property the more you will will get returns from the property. Also the another important factor with this perspective is that more your property is engaged the more it would be taken care of.

Apparently if you want to maximise your profits and value of the property you can apply the below strategies :-

1. If you have a residential property with large space then spilt you property in multiple segments/areas which can help you maximise profit.

2. Provide amenities either it is commercial or residential property adding amenities would definitely increase value of your property.

3. Keep the property clean

4. Increase your rent as per the market standards.

5. Provide additional facilities which make you differentiate your property from others and that you can add some additional fees for that facility

6. keep your environment friendly as most of the people love to stay in the property which is more environment friendly

7. Keep Deposits low and rent little more as end of the day deposits are need to paid however rents are part of your income.

8. Security is another important factor to increase the value of your property.

This are some of the strategies which you can use to maximise the value of the property.

Now answering you questions.

1.) Rents should be as per the market standards. If you're charging high rents however in that area where your property is has less rent that your offering than definitely the buyer would focus on the property with less rent and you can miss the buyer. However if you're additionally providing facilities apart from other than you easily charge high rents and earn more. So I would have some amenities added and then charge high rents.

2. Yes I will maintain the property with highest level of quality and cleanliness as it will help me to rent the property more easily as people are more attracted towards clean and quality places also it can help me to rent more if I maintain cleanliness and quality of my property and simultaneously increase value and income of property.

3. Yes I would take tenants as first I would get rent from them , secondly my property would be maintained and the another important factor is I can tell them to vacate the place if needed and I need the property.